Stull, Stull & Brody Announces Class Action Suit on Behalf of Purchasers of Common Shares of Freeport-McMoRan Inc. -- FCX
February 02 2016 - 5:30PM
Stull, Stull & Brody ("SS&B") announces that a class action
lawsuit was commenced in the United States District Court for the
District of Arizona on behalf of persons who purchased or acquired
the shares of Freeport-McMoRan Inc. ("Freeport-McMoRan" or the
“Company”) (NYSE:FCX) between February 27, 2015 and January 15,
2016, inclusive (the "Class Period").
SS&B is also investigating whether allegations in the class
action were also breaches of fiduciary duties by the officers and
directors of Freeport-McMoRan. An action for breaches of
fiduciary duty can be brought as a derivative action by a
shareholder who held Company stock at the start of the Class Period
and who continues to hold Company stock until the derivative action
has concluded.
The complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements and/or
failed to disclose that: (i) the chief executive officer of its
Indonesian unit, Maroef Sjamsuddin, had discussed, with senior
officials in the Indonesian government, bribing government
officials in return for an extension of Freeport’s right to operate
in the country; (ii) that Freeport had violated the Foreign Corrupt
Practices Act (“FCPA”); and (iii) as a result of the foregoing,
Freeport’s public statements were materially false and misleading
at all relevant times. Both Freeport McMoran’s chairman and
Mr. Sjamsuddin have resigned.
If you wish to discuss this action or have any questions
concerning this notice or your rights or interests with respect to
these matters, please contact Michael J. Klein, Esq. at Stull,
Stull & Brody by e-mail at FCX@ssbny.com, by calling toll-free
1-800-337-4983 x147, or by fax at 212/490-2022, or by writing to
Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017.
You can also visit our website at www.ssbny.com.
Stull, Stull & Brody has litigated many class actions for
violations of securities laws and breaches of fiduciary duty on
behalf of defrauded investors over the past 40 years and has
obtained court approval of substantial settlements on numerous
occasions. Stull, Stull & Brody has offices in New York
and Beverly Hills. The Stull, Stull & Brody website
(www.ssbny.com) has additional information about the firm.
Attorney advertising. Prior results do not guarantee a
similar outcome. This press release may be considered
Attorney Advertising in some jurisdictions under applicable laws
and ethical rules.
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